Nov 25, 2012 3:00pm PST
entitlements. medicare, medicaid and social security. we can't fix this by attacking discretionary spending. it's easy. it's convenient, no one argues. but with political leadership we need specificity. we ought to get a downpayment that gets us into next year and then have a thoughtful discussion about how to make the tax code competitive. lower the tex rate and broaden the base and do things that help us grow. we're talking about 70% of the economy is consumption. if they start to save and people aren't spending when we need them to spend, so going over the fiscal cliff without a barrel, it would be a disaster and people that talk about we could do it and it wouldn't be a bad idea, it would be a terrible idea and we would be back in recession, consumers wouldn't spend. big mistake. >> chris: we have less than a minute left. if we get a deal and it's a solid deal, how much of a boost would it be to the markets? how much pentup demand? how much would you capital that's been sitting on the sidelines? i'm asking what's the upside here? >> i think there's cash sitting on the sideline.
Nov 25, 2012 11:00am PST
easy? a medicare advantage plan can give you doctor, hospital and prescription drug coverage all in one plan... for nothing more than what you already pay for part b. you'll also have the flexibility to change doctors from a network of providers dedicated to helping you stay healthy. call now to learn more. unitedhealthcare has the information you need so you'll be better prepared when making medicare decisions. maybe you'd just like help paying for your prescriptions. consider a part d prescription drug plan. it may help reduce the cost of your prescription drugs. remember, open enrollment ends friday, december 7th. call unitedhealthcare to learn about medicare plans that may be right for you. >> chris: for all of you who survived black friday, here's something new to worry about. christmas is one month from today. a week after that, if nothing gets done here in washington, we all go over the fiscal cliff. what does that mean for shoppers and investors in the final days of 2012? we turn to matthew shay, president and c.e.o. of the national retail federatn and from newton, massachus
Nov 26, 2012 2:00am PST
spending on entitlements, medicare and medicaid and social security and we cannot fix it by attacking discretionary spending. that is the easy thing and it is conve convenient and when we talk about political leadership we need it and we need specificity and what we ought to do in the next few weeks is get a down payment that gets us into next year and then have a thoughtful discussion about how we make the tax code more competitive and lower the corporate rate from 35 to 25% and broaden the base and do the things that will put us on a trajectory of growing, and consumers start to pull back, now we are talking about 70% of the economy is consumption and if they pull back and start to save, we are talking the paradox of thrift and people don't spend at a time we need them to spend and going off the falls in a barrel, the fiscal cliff without a barrel would be a disaster and people say, we could do it and we'll have leverage politically, it would be a terrible idea and we'd be back in recession and consumers wouldn't spend, big mistake. >> chris: mr. sweeney, finally, less than a minute